Retail Sales Top Expectations in November Despite Economic Headwinds
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Retail sales rose 0.3% in November, exceeding expectations of a decline due to economic uncertainty. Sales rose across categories like restaurants, furniture, and online shopping.
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Consumer spending has remained resilient despite high inflation and other economic hurdles like rising interest rates and credit card debt.
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The job market and slight easing of inflation are helping to prop up consumer demand and economic growth.
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Retailers have been heavily discounting and sales are more spread out across the holiday season compared to last year.
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Black Friday saw strong store traffic, but many shoppers are waiting for better deals closer to the holidays.